Minerals 260 will join a recent rash of spin-outs in the junior sector when it lists next month as a separate entity from parent Liontown Resources (reports The West Australian).
But unlike some of the recent crop, the uncoupling makes sense and looks well structured.
Minerals 260 will house Liontown’s precious and base metals assets with a focus on the prospective Moora project and contiguous Koojan farm-in joint venture project with Lachlan Star.
In March, Liontown reported an intersection of 44m at 1.6g/t gold from 200-244m at Moora’s Angepena prospect, which included 20m at 3.2g/t and 4m at 10.1g/t from the first RC hole drilled.
Pilbara Minerals has confirmed Pilgangoora as one of the world’s largest hard rock lithium resource (reports MiningNews).
The company reported a 39% increase in measured, indicated and inferred resources to 308.9 million tonnes at 1.14% lithium oxide, 105 parts per million tantalum pentoxide and 0.59% iron oxide for 3.5Mt of containing lithium oxide and 71.7 million pounds of tantalum pentoxide at a 0.2% lithium cut-off grade.
At a 0.5% cut-off, the lithium resource is 3.4Mt at 1.22%.
Measured and indicated resources were up 59% to 2.46Mt of lithium oxide and 47.7Mlb of tantalum pentoxide.
Lithium has a better claim than most commodities to be the “new oil.” It even comes with the latest geopolitical baggage (reports The Wall Street Journal).
Prices for the lithium-based chemicals that go into rechargeable batteries have soared this year as electric-vehicle sales have revved up, particularly in China.
The average price for lithium carbonate, one of the two key compounds used by battery manufacturers, reached $US14,386 a tonne in August, according to Benchmark Minerals, up from $US6,124 in December.
With Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).
Money continues to pour in for early-stage nickel stocks, with Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).
When a ship full of Fenix Resources’ iron ore sailed out of Geraldton port and into the sunset on Tuesday, the company’s managing director Rob Brierley could relax without fretting over slumping prices for his product (reports The Australian Financial Review).
Back in 2017, when Red 5 bought the historic King of the Hills mine in WA from Saracen Mineral Holdings, it was supposed to be a high grade add-on to the mill it bought from Gold Fields around 100km north at Darlot (reports Stockhead).
While Darlot was a grand old operation that had continuously produced almost 3Moz of gold over three decades, King of the Hills had largely been a high grade satellite underground operation for St Barbara and Saracen since its life as the 1.65Moz Tarmoola open pit ended in 2004.
At that point it had the misfortune to be in the portfolio of Sons of Gwalia, which also owned the Gwalia gold mine 30km to the south, on the doorstep of the northern Goldfields town of Leonora.
SoG infamously collapsed under heavy debts and the weight of a poorly conceived hedging regime.
Boss Energy (ASX: BOE) is a step closer to becoming Australia’s next uranium producer after revealing the front-end engineering and design (FEED) process at its Honeymoon project in South Australia is “well ahead of schedule” (reports Small Caps).
The company now expects the FEED study will be finished early next year. The study’s primary goals include finalising key technical decisions, producing foundational technical documents, as well as confirming and refining the budget and project scope.
Once the study is complete and a final investment decision made, Boss will begin detailed design work and start ordering long-lead items.
“We continue to extend our advantage as the most advanced emerging uranium producer in Australia,” Boss managing director Duncan Craib said.
Well funded Alicanto has wasted no time launching an extensive drilling program to establish a maiden resource for its Sala project after its first hole hit bonanza grades of silver and zinc (reports Stockhead).
Confidence is growing, along with the number of drills at Alicanto, that the company has a significant opportunity to quickly produce its maiden resource at Sala within the next six months.
An initial target area for the resource has been defined with 500m (strike), 500m (down-dip) and a mineralised zone containing multiple wide stacked lodes over 250m.
“Grade is King” of course (and Sala has this in spades), with multiple stacked lodes also boding well for optimisation of a potentially high production rate in the near future based on wide and high-grade intercepts of: